[kqr2]

But wasnt JPow's slow reaction to initial inflation one of the main problems to begin with? Although the data was signaling rising inflation he kept saying it's "transitory". Now he says we need to look closely at the data which is what he should have done in the first place.

[matwood]

The data then wasn't quite so clear or simple. Supply chains were hosed so transitory seemed reasonable at the time along with dealing with pandemic after effects. Of course hindsight is 20/20, but when it became clear the inflation was beyond supply chain issues they pivoted hard and got things back under control.